Brightcove Inc., a provider of cloud services for video, announced it has entered into a definitive agreement to acquire substantially all the assets of Unicorn Media, a provider of cloud video ad insertion technology. Based on a $14 price per share of Brightcove common stock, the transaction is valued at approximately $49 million. The purchase price consists of approximately 2.9 million shares of Brightcove stock and approximately $9.0 million of cash used to pay transaction and other expenses of Unicorn Media.
Unicorn Media has pioneered a cloud-based ad insertion and video stitching service called Once which addresses the limitations of traditional online video ad technology. The Once service reduces or eliminates the need for platform-specific ad technology and makes it possible for digital media companies to reliably deliver live or on-demand video with dynamically customized programming and targeted advertising to the maximum range of devices.